Presidential inaugurations are expensive, which is why Joe Biden raised more than $60 million in 2021 and Trump pulled in more than $106 million in 2017. Now that he’s headed back to the White House, President-Elect Trump needs to raise more money for the big day, and he’s getting help from three major automakers.
Ford, General Motors, and Toyota each donated $1 million to the event, and the two American automakers said they would donate vehicles. These types of donations are common from multinational corporations, as Biden’s donor list included Microsoft, Boeing, Uber, and many others.
That makes it less likely that these donations are being made in hopes of swaying Trump away from some of his more threatening policy decisions, including tariffs, nixing the EV tax credits, and more. Ford CEO Jim Farley expressed optimism earlier this month, saying he believed Trump would be “interested in Ford’s point of view.”
That said, it’s entirely possible these donations help the automakers’ cause. If Trump is able to pull back the EV tax credit, many believe that it would land a significant blow to domestic automakers, which have invested billions in new factories and vehicle engineering. Many companies also build vehicles in Mexico and Canada, making Trump’s proposed tariffs on the two countries a big deal for everyone involved.
[Images: Shutterstock, Toyota, Ford]
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Source: The Truth About Cars
